Bactiguard (BACTI) Q3 2024 earnings summary

Executive summary

• Achieved positive EBITDA of SEK 9.9 million in Q3 2024, reflecting the effectiveness of the license-focused strategy and improved profitability.

• Q3 2024 revenues reached SEK 73.9 million, up nearly 49% year-over-year, mainly driven by strong growth in the BD partnership and Wound Management segment.

• Zimmer Biomet terminated the agreement for multiple orthopedic product segments post-quarter, prompting a review of 2028 financial targets.

• Operating and net losses narrowed significantly year-over-year, with net loss at SEK 4.7 million in Q3 2024.

• License revenues, especially from BD, were the main growth driver, offsetting declines in the BIP portfolio.

Financial highlights

• Q3 total revenues: SEK 73.9 million (up 49% year-over-year); net sales: SEK 67.3 million (up 48.1%).

• EBITDA: SEK 9.9 million (Q3 2023: SEK -9.5 million); EBITDA margin: 13–13.4%.

• Net loss: SEK 4.7 million (Q3 2023: SEK 24.6 million); loss per share: SEK 0.13.

• Cash and cash equivalents at period end: SEK 106.4 million.

• Cash flow from operating activities: SEK 8.3 million (Q3 2023: SEK -35.0 million).

Outlook and guidance

• 2028 financial targets are under review due to Zimmer Biomet contract termination; update expected Q1 2025.

• Committed to delivering EBITDA profitability for full-year 2024.

• Focus remains on advancing partnerships, especially with BD, expanding wound management, and ongoing R&D collaborations.